President Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Ishaq Butt has expressed concern over the 12 percent increase in electricity tariff. Talking to reporters here on Thursday evening, he said the increase would create negative impact on industrial sector, adding that the sector was already under pressure and suffering adversely due to the load shedding.
The cost of production has increased manifold due to the electricity load shedding and high power tariff as a result of which the business community was unable to compete with their competitors like India, China and Bangladesh in international market, he added.
The SCCI President said that if the situation remained the same then Pakistan would lose international market, which would be serious economic setback for the country. The newly elected Chairman Pakistan Sports Goods Manufacturer and Exporters Association (PSGA) Zia-ur-Rehman Chaudhry also expressed concern over the increase in electricity tariff.
Chairman Pakistan Hosiery Manufacturers Association (NZ) Dr Khurram Anwar Khawaja said that value-added knitwear garments, sportswear would be badly affected by the rise in electricity tariff. The industry, he said, was already under great stress and facing serious hardship due to the unscheduled load shedding as a result of which the export was decreasing fast which would create serious economic problems and generate employment.